Are you a contractor? If you work for someone else, it is important to know whether you are working for that person in an employed capacity or in a self-employed capacity as an independent contractor.
Your employment status will determine the charge to tax on income from your employment or self-employment. It will also determine the class of NICs, which are to be paid.
Umbrella Companies employ you for tax purposes and complete central returns for all their contractors. It's less hassle and more flexible for you but take home pay is typically less than that the limited company option.
The best option for you depends on your plans, 'one off' contract or 'contractor for life'? [Read More...]
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If you're a professional contractor then this is for you. Award winning Contractors Limited Company continues to improve its offering with some great looking enhancements to its online accountancy service.
Currently CLC is already offering a slick top of the range service. They feature regularly in the top 5 when it comes to the customer service poll results, so add to this:
...and you get an even better service!
Better service, but at what cost to the customer? CLC Marketing Manager, Ifan Kaldain, said the following when he spoke exclusively to Umbrella Compare:
"We're improving our already great service almost by the week! I'm very excited by what our development team have come up with so far - and there's a lot more in the pipeline.
"We simply give contractors what they want to make their accounting straightforward and easy to use. This focus has undoubtedly underpinned our success.
"We have not raised our prices either - fantastic value for money. Our customers are getting the best value when you compare it to any other contractor accountancy service, many of which have raised their prices over the past few years due to economic pressures. Our sales, quality and service remain high so we can maintain our competitive rates though excellence."
"It's incredible to receive the praise and feedback from those who use our service. Most contractors and small businesses are amazed with our feedback and vested interest in their tax and payroll. We don't just sell a service, we provide a robust solution that actively helps businesses grow. It's a rewarding company to work in, whether bringing on board a new enterprise or helping an existing client reduce their tax bill and seeing their year on year growth."
A very positive spin in a cloudy climate.
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If you are or plan to be a freelance contractor, you must get to grips with IR35. Ignore IR35 and it could cost you thousands!
It's the basics... Compliance with Tax, VAT, PAYE and fiscal arrangements is mandatory for contractors regardless of whether you use an umbrella company or your own limited company.
Incredible then that there are still rogue umbrella companies and limited company accountants who expose their contractors to fraud. Umbrella Compare provides THE solution, we thoroughly vet all umbrella companies and limited company accountants that we list [Read more...].
Umbrella Compare provides a holistic overview of contracting with the aim of helping new and old contractors find the right payroll solutions. Contracting should be about focusing on the contract, not payroll, accounting, HMRC and bureaucracy.